The Procter & Gamble Company (NYSE:PG) Shares Purchased by Biltmore Wealth Management LLC

Biltmore Wealth Management LLC increased its stake in shares of The Procter & Gamble Company (NYSE:PG) by 5.3% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 5,818 shares of the company’s stock after acquiring an additional 293 shares during the period. Procter & Gamble makes up approximately 0.4% of Biltmore Wealth Management LLC’s holdings, making the stock its 24th largest holding. Biltmore Wealth Management LLC’s holdings in Procter & Gamble were worth $975,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Concurrent Investment Advisors LLC raised its position in shares of Procter & Gamble by 4.5% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 94,109 shares of the company’s stock valued at $16,300,000 after purchasing an additional 4,035 shares in the last quarter. Copley Financial Group Inc. acquired a new position in shares of Procter & Gamble in the 3rd quarter valued at approximately $668,000. Fortem Financial Group LLC acquired a new position in shares of Procter & Gamble in the 4th quarter valued at approximately $569,000. Synovus Financial Corp raised its position in shares of Procter & Gamble by 3.4% in the 3rd quarter. Synovus Financial Corp now owns 185,134 shares of the company’s stock valued at $32,065,000 after purchasing an additional 6,077 shares in the last quarter. Finally, Nordea Investment Management AB raised its position in shares of Procter & Gamble by 7.5% in the 4th quarter. Nordea Investment Management AB now owns 2,898,569 shares of the company’s stock valued at $484,583,000 after purchasing an additional 201,695 shares in the last quarter. 65.77% of the stock is owned by institutional investors and hedge funds.

Procter & Gamble Trading Up 0.6 %

NYSE:PG opened at $159.82 on Wednesday. The Procter & Gamble Company has a 1 year low of $146.28 and a 1 year high of $180.43. The stock has a market cap of $376.38 billion, a price-to-earnings ratio of 27.56, a PEG ratio of 3.70 and a beta of 0.45. The business has a fifty day moving average of $169.40 and a 200-day moving average of $169.52. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.75.

Procter & Gamble (NYSE:PG) last released its quarterly earnings results on Friday, October 18th. The company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.03. Procter & Gamble had a return on equity of 33.25% and a net margin of 17.07%. The company had revenue of $21.74 billion during the quarter, compared to analysts’ expectations of $21.99 billion. During the same quarter in the prior year, the business posted $1.83 earnings per share. The company’s revenue for the quarter was down .6% compared to the same quarter last year. Equities analysts predict that The Procter & Gamble Company will post 6.94 earnings per share for the current year.

Procter & Gamble Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Friday, January 24th will be issued a dividend of $1.0065 per share. This represents a $4.03 dividend on an annualized basis and a yield of 2.52%. Procter & Gamble’s payout ratio is currently 69.31%.

Insider Buying and Selling

In related news, CEO Gary A. Coombe sold 47,847 shares of Procter & Gamble stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $179.84, for a total transaction of $8,604,804.48. Following the transaction, the chief executive officer now directly owns 39,977 shares of the company’s stock, valued at $7,189,463.68. The trade was a 54.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Balaji Purushothaman sold 12,800 shares of Procter & Gamble stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $172.73, for a total value of $2,210,944.00. Following the transaction, the insider now directly owns 11,595 shares in the company, valued at approximately $2,002,804.35. The trade was a 52.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 75,439 shares of company stock valued at $13,317,460 over the last three months. Company insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

PG has been the topic of several research reports. Wells Fargo & Company dropped their price target on Procter & Gamble from $190.00 to $176.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Morgan Stanley upped their price target on Procter & Gamble from $174.00 to $191.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Piper Sandler initiated coverage on Procter & Gamble in a research report on Tuesday, September 24th. They set a “neutral” rating and a $174.00 price target on the stock. Hsbc Global Res raised Procter & Gamble to a “strong-buy” rating in a research report on Friday, October 4th. Finally, Barclays lowered Procter & Gamble from an “overweight” rating to an “equal weight” rating and set a $163.00 price target on the stock. in a research report on Monday, September 30th. Eight analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Procter & Gamble currently has a consensus rating of “Moderate Buy” and an average price target of $179.75.

About Procter & Gamble

Procter & Gamble Co engages in the provision of branded consumer packaged goods. It operates through the following segments: Beauty, Grooming, Health Care, Fabric and Home Care, and Baby, Feminine and Family Care. The Beauty segment offers hair, skin, and personal care. The Grooming segment consists of shave care like female and male blades and razors, pre and post shave products, and appliances.